Hanmi Financial Corporation $HAFC Stock: SummerHaven Investment Management LLC Increases Stake

SummerHaven Investment Management LLC lifted its position in shares of Hanmi Financial Corporation (NASDAQ:HAFC) by 63.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 46,612 shares of the bank’s stock after purchasing an additional 18,051 shares during the quarter. Hanmi Financial accounts for approximately 1.0% of SummerHaven Investment Management LLC’s investment portfolio, making the stock its 26th largest holding. SummerHaven Investment Management LLC’s holdings in Hanmi Financial were worth $1,440,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of HAFC. Assetmark Inc. raised its stake in shares of Hanmi Financial by 35,033.3% in the first quarter. Assetmark Inc. now owns 1,054 shares of the bank’s stock valued at $28,000 after purchasing an additional 1,051 shares in the last quarter. Allworth Financial LP lifted its position in Hanmi Financial by 62.6% in the second quarter. Allworth Financial LP now owns 1,003 shares of the bank’s stock worth $32,000 after purchasing an additional 386 shares during the period. Nykredit A S bought a new position in Hanmi Financial in the second quarter worth $35,000. GAMMA Investing LLC lifted its position in Hanmi Financial by 22.5% in the second quarter. GAMMA Investing LLC now owns 2,487 shares of the bank’s stock worth $81,000 after purchasing an additional 456 shares during the period. Finally, Royal Bank of Canada boosted its stake in Hanmi Financial by 85.4% during the first quarter. Royal Bank of Canada now owns 3,486 shares of the bank’s stock worth $92,000 after buying an additional 1,606 shares in the last quarter. 88.66% of the stock is currently owned by institutional investors.

Hanmi Financial Stock Performance

NASDAQ:HAFC opened at $31.12 on Friday. The firm has a market capitalization of $922.71 million, a PE ratio of 10.48 and a beta of 0.75. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.25. Hanmi Financial Corporation has a 12-month low of $23.00 and a 12-month high of $33.50. The firm has a 50-day moving average price of $31.57 and a 200 day moving average price of $30.84.

Hanmi Financial (NASDAQ:HAFC) last released its quarterly earnings data on Tuesday, July 21st. The bank reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The company had revenue of $72.21 million for the quarter, compared to the consensus estimate of $74.03 million. Hanmi Financial had a return on equity of 11.20% and a net margin of 19.82%. Research analysts anticipate that Hanmi Financial Corporation will post 3.19 earnings per share for the current fiscal year.

Hanmi Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Monday, August 3rd were issued a $0.28 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.6%. Hanmi Financial’s dividend payout ratio is presently 37.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. DA Davidson boosted their price target on shares of Hanmi Financial from $31.50 to $34.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Hanmi Financial in a research note on Monday, September 21st. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Hanmi Financial has a consensus rating of “Hold” and a consensus price target of $33.00.

About Hanmi Financial

Hanmi Financial Corporation is the parent company of Hanmi Bank, a community-focused commercial bank headquartered in Los Angeles, California. Founded in 1982, Hanmi Bank was established to serve Korean American communities and has expanded its customer base to include small and middle-market businesses, professionals, and individuals in diverse communities.

Hanmi Bank offers commercial and consumer banking products, including business loans, commercial real estate financing, Small Business Administration loans, commercial and residential mortgage lending, checking and savings accounts, certificates of deposit, and consumer loans.